Kroll Bond Rating Agency on March 6 revised its outlook on Ameris Bancorp's long-term ratings to "positive" from "stable," reflecting the company's "considerable" increase in scale and diversification and its improved risk management infrastructure.
The rating agency affirmed Ameris' senior unsecured debt rating of BBB, subordinated debt rating of BBB- and short-term debt rating of K3. It also affirmed subsidiary Ameris Bank's deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB and short-term deposit and debt ratings of K2.
The ratings are supported by the Moultrie, Ga.-based company's "strong brand" and "solid deposit franchise," according to Kroll. They are, however, constrained by its real estate loan concentration in the historically volatile markets of Georgia and Florida, as well as by the company's acquisitive growth strategy.
